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| Author: | Cuesta, R. A. Orea, L. |
| Title: | Mergers and technical efficiency in Spanish savings banks: A stochastic distance function approach |
| Journal: | Journal of Banking and Finance
2002 : DEC, VOL. 26:12, p. 2231-2248 |
| Index terms: | MERGERS SPAIN BANKS STOCHASTIC PROCESSES |
| Language: | eng |
| Abstract: | The aim of this paper is to test the temporal variation of technical efficiency of Spanish savings banks during the period 1985-1998. Furthermore, the authors test whether merged and non-merged firms have different levels and temporal patterns of technical efficiency. A stochastic output distance function is employed to accommodate multiple output technology. The distance function provides the advantage that it does not need information about prices, so it can accommodate the multi-product nature of the financial sector only using the quantities as data. The temporal variation of efficiency is modeled in the following way: relaxing the monotonicity of the temporal variation pattern of the efficiency term, and allowing for different patterns of efficiency change between merged and non-merged firms. |
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